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Silver price plunges to near $23.15 as appeal for bullions fade ahead of FOMC minutes. Investors reconsider Fed’s rate cut bets amid robust US economic prospects. More downside in Silver is likely amid a H&S breakdown. Silver price (XAG/USD) fell vertically to near $23.15 as investors rush for safe-haven assets in the early New York […]

The post Silver Price Forecast: XAG/USD Nosedives as US Yields Rally in a Data-Packed Week appeared first on Action Forex.

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25/07/2024

EURUSD Pulls Back Towards Converging SMAs

EURUSD retraces lower after hitting 4-month high The bears eye converging 50- and 200-day SMAs Oscillators deteriorate but remain in positive zones EURUSD had been rising steadily following its bullish breakout from a downward sloping trendline in early July, posting a fresh four-month peak of 1.0947 last week. However, the pair has been experiencing a correction since […]
03/03/2024

BoC to Deliver Another Dovish Hold, Unemployment Rate to Tick Higher

The Bank of Canada is widely expected to maintain the overnight rate steady again at its meeting on Wednesday. An announcement on the ending of quantitative tightening is unlikely but we expect that to follow later in April. Over past meetings, the BoC has been gradually and cautiously moving towards a more dovish stance. Language […]
19/09/2024

Elliott Wave View on EURJPY Expects Rally to Fail

Short term Elliott Wave view on EURJPY suggests cycle from 8.16.2024 high ended at 155.14 as wave A. Internal subdivision of wave A unfolded as 5 waves impulse. Down from 8.16.2024 high, wave ((i)) ended at 160 and wave ((ii)) rally ended at 162.89. Wave ((iii)) lower ended at 155.446 and rally in wave ((iv)) […]